Medicare can be very confusing to many people and everyone has many questions, like:

Is it mandatory to go on Medicare at age 65?

Do I need Medicare?

How much does Medicare cost?

Do I still need Medicare if I am still working?

Do I need Medicare Part A?

Do I need Medicare Part B?

Do I need Medicare Part D?

What does Part D cover?

How many “parts” are there to Medicare?

Am I penalized if I don’t sign up for Medicare at age 65?

The list of questions go on and on….

Standardized Medicare Supplement insurance plan (Medigap) benefits are set by the federal government. That means the basic benefit structure for each plan is the same, no matter which insurance company is selling it to you.

All Medicare supplement plans provide these basic benefits:

Medicare Part A coinsurance or copayment

Medicare Part B coinsurance or copayment

Cost of blood transfusion (1st 3 pints)

Part A hospice / respite care coinsurance or copayment

Some plans may also provide additional benefits including:

Skilled nursing facility coinsurance or copayment

Part A deductible ($1340 in 2018)

Part B deductible ($183 in 2018)

Part B excess charges

Foreign travel emergency (up to plan limits)

Benefits and cost vary depending on the plan you choose (you pay a monthly premium and some out-of-pocket cost)

Medicare Supplement vs. Medicare Advantage

A Medicare Supplement plan maybe purchased if you have Medicare Part A and B coverage. If you join a Medicare Advantage plan, you’ll still have coverage but you’ll get your Medicare Part A and Medicare Part B coverage from the Medicare Advantage Plan not original Medicare, and sometimes prescription drug benefits are included with these plans.

You can not have both a Medicare Supplement Plan and Medicare Advantage Plan.

Medicare Advantage Plans can only be applied for during "open enrollment period".